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South African equity hedge fund returns up +3.6% (+7.6% YTD)

Wednesday, May 31, 2017
Opalesque Industry Update - Hedge Funds serviced by Peregrine performed well for the month of April, very much in line with the positive market sentiment that saw all sectors across the local bourse end the month well in the black. The political environment has been a strong influence on markets for some time now (locally and globally), but domestically April was relatively quiet, while abroad, in France, a victorious Macron seemed to bode well for European (and perhaps global) markets in general. In local markets we saw the All Share Index briefly start the month on the back foot, followed by choppy movements mid-month driven by currency fluctuations, to end the month +3.6% better.

Taking a closer look at sectoral indices, we see Industrials remaining strong and in pole position with a substantial +6.0% posted for the month, meaning YTD the sector now stands at a very good +13.5%. Financials were not too far behind with their own +4.1% gained for month, much needed relief following consecutive losses and with that bringing its YTD back in the black at 2.1%. Resources saw a marginal +0.3% gained for the month, translating into a slightly better YTD figure now of +2.2%.

Turning our focus now to on our primary hedge fund styles, Equity Long short posted a good +1.45% for April (following +0.73% for March) while Market Neutrals also did fairly well gaining +0.82% gained (post +0.74% in February). The Long short YTD figure thus now stands at +3.71% while Market Neutrals now lag, albeit marginally, at +3.63%.

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